Are Password Managers Safe [Full Guide]

A password manager is a software program designed to store all the passwords for all your online accounts.

And the best thing about it is that it keeps your passwords encrypted to ensure security.

So, if you’re wondering whether password managers are safe or not, you’ve come to the right place. 

In this article, I will talk about how you can configure your password manager to ensure maximum safety. I will also talk about the risks of not configuring your password manager. Finally, I will talk about whether you should store your passwords in your brain or in a password manager. 

What Is a Password Manager?

Password managers are a type of application designed to manage your passwords. In my earlier article, I covered the most common types of password managers.

Generally, password managers handle all of the complex password management for you. You create the master password, which essentially grants you access. The password manager then creates and stores your passwords for you.

Password managers also handle managing your password database. This means if you use two-factor authentication, you’ll still need to remember your login credentials. Password managers handle this by generating one-time passwords for you.

Benefits of Using a Password Manager

Password managers can store all your passwords in an encrypted form with secure authentication and authentication keys. This means that, even if your password manager is compromised, no passwords will be stolen by a hacker.

Finally, password managers are synced across multiple devices, so you can use them everywhere without writing down your passwords.

The Risks Associated With Using Password Managers

As with anything, there are some inherent risks in using a password manager. Many of these risks are directly related to the security of the software.

• Security of Passwords: Your password is the password to your password manager. This means that if the password manager is compromised, then all of your passwords are vulnerable.
• Security of Password Manager: Similar to the above, if the password manager is compromised, then the passwords you’ve stored are vulnerable.
• Security of Software: Password managers have security flaws themselves. While most of these flaws are highly uncommon, it’s important to remain aware of them.

How to Improve the Security of a Password Manager

Take the time to improve your password Manager. Look into programs that offer additional features like two-factor authentication, password generation software, and password syncing.

For added security, consider a password manager that allows you to generate a unique password for each site.

Remember to change your password every 6 months or so. Even if your password manager stores it, you can never be sure if it’s been compromised.

What Alternatives Are Available?

While Password Managers are the best option for secure passwords, there are alternatives to password managers, such as TOTP generators.

With TOTP, your passwords are unique, so if someone gets access to your password, they won’t be able to use the password.

TOTP generators, however, don’t have as many features as password managers. To generate a password, a user would have to use their phone number, which makes it easier for hackers to access that account.

Another alternative is to use a password manager with a security key. A security key is an extra security layer to your password manager, and is a device that can add another layer of security to your password manager.

The security key only allows a user to access their password manager, and can’t access any other accounts. So, if a hacker were to steal your password, they wouldn’t be able to use the password manager.

Final Thoughts on Password Managers

Password managers are an invaluable tool for both regular users and enterprises, helping users store and organize their passwords. Many password managers even offer additional features, from password rotation to two-factor authentication.

However, not all password managers are equally safe.

For users, the most important factor is choosing a reputable password manager. For enterprises, the key point is using password managers properly, as not all organizations fully understand the importance of password managers, and there are also numerous potential risks.

While all passwords are safe with the right password manager, it’s important to remember that not all password managers are secure. Users should take care to choose the right password manager for their needs and to store their passwords safely.

Featured Image Credit: Processed Photo, Pixaba

FAQ

Hopefully this guide for are password managers safe was helpful for you.